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Mar 18, 2013
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economy remains pretty good. it's a safe haven. the dollar has done better relative to lots of other things. the u.s. is a pretty good place to be including with the cypress event. cheryl: you know, if you look at -- well, okay, first we're looking at gdp. obviously, they've got a massive unemployment problem, 1.1 million people on the small island rocking global markets, but this bailout plan, i think that is where the spook kind of came from. a lot of russian money, a lot of wealthy russian investors have their money parked in cypress banks. is that kind of what's got european investors nervous, the running, you know, running towards spain and italian bonds or is something else going on? >> well, i think there's no question that, um, the size of the economy as was reported earlier, that doesn't matter a whole lot. it's all about the connection to europe and the euro. and as you know, anytime somebody says i've got a deposit and somebody says i'm going to take some away from you, boy, that does a whole lot to scare people away, an
economy remains pretty good. it's a safe haven. the dollar has done better relative to lots of other things. the u.s. is a pretty good place to be including with the cypress event. cheryl: you know, if you look at -- well, okay, first we're looking at gdp. obviously, they've got a massive unemployment problem, 1.1 million people on the small island rocking global markets, but this bailout plan, i think that is where the spook kind of came from. a lot of russian money, a lot of wealthy russian...
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Mar 20, 2013
03/13
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economy. u.s. gdp. now it is about 9%. do you think that shift is beneficial to the u.s. economy? >> i don't think i know the answer to that question. certainly the financial system, i could argue in two ways, so the u.s. economy grew pretty well between 1945-1975, 1980. the financial system was much simpler and didn't have a lot of exotic rigors and so on. so that would be one way to argue maybe all this extra financial activity is not justified. on the other hand the world is a lot more concentrated, lots more international, large multinationals that are connecting resources, investors and other countries, there's a lot more demand, so i think based on that and based on the innovations and information technology in a lot of industries you would expect financial services to be somewhat bigger. so i don't really know the answer to that question. my predecessor paul volcker explained the only contribution financial industry is the automatic teller machine. i don't know the answer. a much bigger sector can be defined by the wider range of services globalized financial economic syste
economy. u.s. gdp. now it is about 9%. do you think that shift is beneficial to the u.s. economy? >> i don't think i know the answer to that question. certainly the financial system, i could argue in two ways, so the u.s. economy grew pretty well between 1945-1975, 1980. the financial system was much simpler and didn't have a lot of exotic rigors and so on. so that would be one way to argue maybe all this extra financial activity is not justified. on the other hand the world is a lot more...
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Mar 19, 2013
03/13
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you are bullish on the economy. i want to be there, and there's a mixed bag here, unemployment, 7% to 8% range, forecasted for the year. housing, a little bit of a concern here from economists that the housing market is ahead of itself, but, still, bullish on the u.s. economy, so explain that. >> yes, thanks, cheryl. we are bullish on the u.s. economy, housing continues to come back. you saw the numbers today, but, you know, it's still 15, 20, 25%, spending where you are, in the u.s. 30% where it was at its peak. you know, household formation in the last few years has been delayed because of americans deciding to live with their parents, essentially, but population growth continues. bullish on the housing market driving quite of other consumer demand. cheryl: are you changing your asset allocation mix now? is that something you're in the midst of doing, especially on a day like today and yesterday when there seems to be a lot of money moving around, not a lot of new money, but money moving nonetheless. >> we're not
you are bullish on the economy. i want to be there, and there's a mixed bag here, unemployment, 7% to 8% range, forecasted for the year. housing, a little bit of a concern here from economists that the housing market is ahead of itself, but, still, bullish on the u.s. economy, so explain that. >> yes, thanks, cheryl. we are bullish on the u.s. economy, housing continues to come back. you saw the numbers today, but, you know, it's still 15, 20, 25%, spending where you are, in the u.s. 30%...
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Mar 21, 2013
03/13
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economy. or is about the european debt crisis and slumping steaks -- tech stocks are weighing on the market. the major averages are all on track to finish in the red. nike running lower ahead of third quarter earnings due out after the bill today. the global sports apparel at the where companies expected to report earnings per share of $0.67 on just over 6 billion in revenue. nike has had a good track record , beating in three of the last four quarters. getting your starbucks fix could use some free joke. the coffee chain expanding its popular customer rewards program. shoppers dinner points for free drinks and food after buying starbucks back coffee at the food store. and now we continue our "countdown to the closing bell" with sheryl. ♪ cheryl: clinical trials of the prescription. shares of acadia pharmaceuticals soaring to a new height. let's head back to nicole petallides on the floor of the new york stock exchange. >> reporter: l.a.'s taken fund selected a company that is building in ma
economy. or is about the european debt crisis and slumping steaks -- tech stocks are weighing on the market. the major averages are all on track to finish in the red. nike running lower ahead of third quarter earnings due out after the bill today. the global sports apparel at the where companies expected to report earnings per share of $0.67 on just over 6 billion in revenue. nike has had a good track record , beating in three of the last four quarters. getting your starbucks fix could use some...
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Mar 13, 2013
03/13
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the cost of 80 percent of the european economy is driven by bank lending. liz: is that or you? >> quite a bit because banks are not lending unless they get very, very pricey type of loans out there. they're trying to arbitrage with they can borrow from the ecb in what the land to business to increase their capital base. liz: are you worried about what is going on? let's bring it home, the fed and when the fed, perhaps, eventually titans. has to be inevitable. >> yes, but i love saying this. as you look back and a 73% of the time the market is going up. 70 percent of the time the fed is not easing. so people have this kind of warped sense, and i don't know how else to describe it -- markets only open the fed is easing. markets go up and earnings to better. what fed policy will really do is set something on interest rates. normally when interest rates go down pe goes up. over the last four years interest rates have come down and pe has come down. so the fact that -- liz: hold on one seconds. we have breaking news. let's listen in. the curtain is opening in st. peter's square. [ap
the cost of 80 percent of the european economy is driven by bank lending. liz: is that or you? >> quite a bit because banks are not lending unless they get very, very pricey type of loans out there. they're trying to arbitrage with they can borrow from the ecb in what the land to business to increase their capital base. liz: are you worried about what is going on? let's bring it home, the fed and when the fed, perhaps, eventually titans. has to be inevitable. >> yes, but i love...
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Mar 14, 2013
03/13
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cheryl: and the economy is looking good. you're absolutely right. let's go to the cme. all right. let's go back. i mean really, you always tell me. it's not about the dow. it's about the s&p. that is the true handle on the market. we are so close. that's true bull that we need for the rest of the year. >> at dawn of the rest of the year, but certainly i am considering that old adage. we keep climbing so much. we do a point here, a point there. the dow does five to 50 points. the markets are locked into this bull trend. they don't seem to want to give it up. the economic data keeps coming up with better and better. cheryl: you know, have to say. most market watchers will say that there is going to be a bit of a pullback. the question is when. that many correction, big correction coming in the next month, four months, five months. >> that is why it may go away. right now anybody that has waited for the pullback, where are they? they're still in cash. they have not had a pullback since dec. 31st, and that has been the problem. there is not that big break for them to come in on. chery
cheryl: and the economy is looking good. you're absolutely right. let's go to the cme. all right. let's go back. i mean really, you always tell me. it's not about the dow. it's about the s&p. that is the true handle on the market. we are so close. that's true bull that we need for the rest of the year. >> at dawn of the rest of the year, but certainly i am considering that old adage. we keep climbing so much. we do a point here, a point there. the dow does five to 50 points. the...
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Mar 15, 2013
03/13
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this market's pretty solid, and i'm going to want to watch the economic outlook, the economy, how it's doing to give me my real indication where the market's going to go, and i think that's positive right now. cheryl: let's go to the nymex and talk about the oil market in particular. as we've seen oil continue to stay above that $90 price point, excuse me, the contract really has been somewhat stable for the last month or so. if we get this equities selloff, though, what do you think that means for oil, alan? >> we're in an overbought situation both in crude oil and natural gas, so to me i'm looking at $94. if it can't get through $94, i think we're going below $90. so i see short term a run-up to $94, maybe 94.20 and then down. but a really interesting point is natural gas. natural gas is at its high right now. it's a sale, in my opinion, and i don't think we're going to see above $4 in natural gas. there's an oversupply situation in it. we're at the end of the season. we're going to have switching over to coal, we're going to have rigs coming online, and there's going to be nowhere t
this market's pretty solid, and i'm going to want to watch the economic outlook, the economy, how it's doing to give me my real indication where the market's going to go, and i think that's positive right now. cheryl: let's go to the nymex and talk about the oil market in particular. as we've seen oil continue to stay above that $90 price point, excuse me, the contract really has been somewhat stable for the last month or so. if we get this equities selloff, though, what do you think that means...